Question

In: Statistics and Probability

A convenience store recently started to carry a new brand of soft drink. Management is interested...

A convenience store recently started to carry a new brand of soft drink. Management is interested in estimating future sales volume to determine whether it should continue to carry the new brand or replace it with another brand. The following table provides the number of cans sold per week. Use both the trend projection with regression and the exponential smoothing​ (let alphaαequals=0.4 with an initial forecast for week 1 of 601) methods to forecast demand for week 13. Compare these methods by using the mean absolute deviation and mean absolute percent error performance criteria. Does your analysis suggest that sales are trending and if​ so, by how​ much?

Period

1

2

3

4

5

6

7

8

9

10

11

12

Sales

601

630

650

749

674

610

725

698

733

719

676

730

​(i) Obtain the trend projection with regression forecast.

The forecast for week 13 is_____ ​(Enter your response rounded to the nearest whole​ number.)

Solutions

Expert Solution



Which is the required forecast for week 13.

orchestra answered 1 year ago
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